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But student loan relief can provide a lifeline for borrowers in need.
However, Townsend predicted that Trump could void the lawsuit with an executive action.
Renwick predicted that if the SAVE plan is terminated, many borrowers monthly payments would increase.
Those enrolled inincome-driven repayment programswould feel the brunt of the impact, he explained.
Recognizing that Trump likely would end the SAVE plan, these new plans offer additional support to borrowers.
Townsend recommended that borrowers start planning for the potential implications of thestudent loan changesthat Trump is likely to implement.
He suggested that borrowers stop any frivolous spending, including curtailing vacations and eating out.
Doing so can help borrowers to save money and better prepare for the larger loan payments they may face.
He recommended that individuals considering attending college reassess their college options.
Local and community colleges may provide more affordable programs than out-of-state public or private schools.
Take the time to read every contract.
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